In this article, Thomas Friedman, the highly regarded author of "The World is Flat,"talks about the affect that technology is having on employment, innovation, income, and other areas of life. Interestingly, he quotes author and professor Erik Brynjolfsson on the idea that most economists argue that technology advancement increases the overall size of the pie, and with time, all else will follow; however, Brynjolfsson points out that not everyone benefits from the developments of technology. Brynjolfsson continues his thought with "those with more education start to earn much more than those without it, those with the capital to buy and operate machines earn much more than those who can just offer their labor, and those with superstar skills, who can reach global markets, earn much more than those with just slightly less talent."
Friedman believes that graduates - and all workers for that matter - must develop skills that technology can't provide or that can be complements to it.
Link: http://www.nytimes.com/2013/01/30/opinion/friedman-its-pq-and-cq-as-much-as-iq.html?src=recg
1 comment:
What we have learnt in class today was that income is affected by talent and ability, acquired skills, and effort. And what did technology does? It developed so much that it steps by steps replaced human in the working place. There are jobs that machine and technology cannot do for human, but those jobs either require special skills or are low-paid. Everybody is trying their best to find a job, so effort is not a decisive criteria. It is, and should be, the skills human have and learn that decide where you are going to stand in the income map.
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